another excerpt dated 11/14/06 touts how well the company has refocused and is doing well, again expressing reduced expenses & improving revenue from all its markets esp. "flying off the shelves" NMG, which should be posted 4th qtr.
I believe shareholders are expecting more than survival at this point.
I would like to see a blockbuster turnaround 4th qtr report.
After all, NMG is not a consignment contract.
[The Company generated a 45% increase in revenue from its "core" Professional products during the third quarter, compared to the year-earlier period. During the quarter, the Company entered into a distribution agreement with the Nationwide Marketing Group (NMG), under which NMG has begun to market the Q Line Silver System to a larger group of retailers. As a result of this agreement and the decision to avoid "Big Box" retailers as part of its distribution strategy, SLS was able to reduce advertising and promotion expenses by $552,000.
"We are pleased that we are able to report significantly improved operating results," said John Gott, CEO of SLS International. "Our decision to focus on distributors and independent dealers as opposed to large-scale Big Box retailers to distribute the Q Line Silver System has allowed us to substantially reduce marketing expenses, while still maintaining broad distribution capabilities. As we have just began shipping our Q Line products in the end of this quarter to the Nationwide members the initial response has been very positive. We are expecting these products to gain momentum over the next quarter and in 2007 and build into the primary outlets for our Q Line and other Home Theater products. Our Professional products also continue to increase in sales, as we build on the reputation that the company has had for many years as a developer of innovative sound systems. We expect to continue to grow our commercial business, helped by innovative products such as our recently announced LS6593 and LS6593A Line Array speakers. Also, our Cinema Series is continuing to see strong growth as many new installations have been made utilizing our PRD Ribbon Driver technology speaker systems and the response from the owners and operators is very positive about the difference that our systems make to the movie going experience. We are optimistic that this growth will continue and turn our products into the new industry standard as cinemas around the world move into the reality of the Digital Cinema.
As we set our sights on moving towards profitability we will continue to manage expenses tightly and focus on driving operating efficiencies and improved results."]
ref: pr news 11/14/06; JG comments on 3rd qtr results.
AI
